Sales for 1 January - 30 June reach 320 million and EBITDA 37.9 million. In line with the company's forecast, sales during the second quarter were much improved compared to those of the first, reaching 196.6 million Euros, 14.7% less than in 2008.

The results for the first half of the year reflect a strong move towards the company's main objectives for 2009: a 14.6% reduction in operating costs and an increase in cash flow of 64.9 million Euros compared to last year.

Fluidra, a multinational group specialising in the development of applications for the sustainable use of water, today published its figures for the first half of 2009. Sales for the period 1 January – 30 June reached 320 million Euros, which is 19.1% less compared to the same period last year. The second quarter saw revenues of 196.6 million Euros (only a decrease of 14.7%), whilst in the first quarter income was down 25.2% on the previous year. This positive development is largely due to the improved performance of recurring business and a shortage of stock in the distribution channels. The increase in sales is relatively evenly spread throughout the world, but with the biggest improvements seen in Southern Europe.

The business units, Pool/Wellness, Water Treatment and Irrigation, have all performed in a similar way, in line with the general trend, showing improved figures in the second quarter. The last two reached, during the second quarter, levels similar to last year. The improvement in cash flow of 64.9 million Euros compared to the first half of 2008 is based on the positive performance of circulating capital and operating costs. Both have seen important reductions, of 15.3% and 14.7% respectively, as a result of the different initiatives taken to improve the efficiency of the company.

The containment of costs also alleviated the impact of the decrease in sales on EBITDA, which reached 32 million Euros in the second quarter and 37.9 million Euros in the period ending 30 June, compared to 65.9 million Euros for the same period in 2008. The recurrent net profit stands at 9.6 million Euros, compared to 29.3 million Euros in 2008.

The managing director of Fluidra, Eloi PLANES, declared “As the figures for the first half of the year show, the adaption phase of our cost structure and circulating capital to the new environment is already very advanced. This allows us to concentrate on developing the business, international expansion and diversification, in line with the expected recovery of the markets.”

Press release